The AccessFintech network aggregates business exceptions, and provides risk management and resolution tools, from both internal and external networks. Trading parties can use a visual dashboard to view failed trades and prioritise and and identify which user interaction is required, and by which firm.

All four institutions have been working with AccessFintech on projects throughout the past year, individually and as a group.

Daren Cohen, partner and global head of PSI at Goldman Sachs says: “AccessFintech creates a platform for industry collaboration on exception resolution, improving risk management and operational efficiency for all network participants. As an independent, industry-owned company, AccessFintech is well positioned to accelerate the evolution of the financial industry, and we’re thrilled to be a part of it.”

Established by former Traiana founder Roy Saadon, AccessFintech says it plans to use the funding to further invest in its risk and exception management services, expand global account coverage and accelerate uptake within institutions not only in post trade operations, but also areas such as credit monitoring and outsourcer oversight.

The firm was a former member of JPMorgan's In-Residence technology startup programme, designed to assist emerging firms in growing their business at scale.

Ana Capella, MD and head of strategic investments at JPMorgan Chase says: “We have been fortunate to have been an early adopter of AccessFintech and thus able to vet its value proposition through real life scenarios. Once we understood the impact on the operational model of the financial participants it was a quick decision to provide the financial backing and the momentum to grow this a true cloud based solution, while ensuring it maintains its independence to service the entire eco system.”